Aaron Rossi asks the court if he can sell two condos as he awaits trial
Reditus Labs CEO Aaron Rossi wants to sell two condo units he owns in Peoria as he awaits trial on federal tax fraud charges, and he’s seeking a judge’s permission.
Attorneys for Rossi, 39, of Bloomington, filed a motion Wednesday seeking to modify a pretrial condition that allowed him to be released from custody while awaiting trial. Rossi wants to sell two condo units he owns at 401 and 702 Southwest Water St. in Peoria. According to the motion, the units were previously used for executives of Reditus Labs on a short-term basis but can no longer be used for that purpose because of a resolution passed by the condominium association.
At a court appearance in April, a judge set multiple conditions for Rossito remain free while awaiting trial, including a ban against Rossi taking out loans or lines of credit or liquidating or transferring assets. Rossi is accused in a federal indictment of falsifying his personal tax returns in 2015, 2016 and 2017, before Reditus Labs opened.
The Pekin-based company made more than $200 million in government contracts for coronavirus testing.
Rossi also wants the court to allow him sell any of his assets without seeking court approval, saying “it’s not necessary to assure Dr. Rossi’s appearance in this case or the safety of the community.”
“Despite knowing that he has been under investigation since no later than 2018, Dr. Rossi has never attempted or made plans to leave the area,” the motion stated.
His attorneys said Rossi is willing to put any funds in an escrow account pending trial.
“In fact, had the government produced a loss-amount calculation as it has repeatedly promised, Dr. Rossi would have already done so,” the motion stated.
Rossi faces a pretrial appearance in August. The trial date is Sept. 26.
Rossi is also involved in several lawsuits involving former business partners at Reditus. A Tazewell County judge has approved a receivership that strips Rossi of any financial control of the company.
Rossi’s state license as a registered surgical assistant is due to expire on Wednesday.